§ 27-406.1. Fraudulent insurance acts of individual sureties.

Latest version.

   (a) "Individual surety" defined. -- In this section, "individual surety" means a person that:

   (1) issues surety bonds or contracts of surety insurance; and

   (2) does not have a certificate of authority issued by the Commissioner.

(b) In general. -- It is a fraudulent insurance act for an individual surety to solicit or issue a surety bond or contract of surety insurance except as provided in:

   (1) § 13-207 and 17-104 of the State Finance and Procurement Article; and

   (2) for an uncompensated person, § 5-203 and 5-204 of the Criminal Procedure Article.

HISTORY: 2012, chs. 299, 300.

                    
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